mai-listed firms report THB 3.9 bln net profits in 2016

Stocks and Financial Services Press Releases Wednesday March 8, 2017 11:11
Bangkok--8 Mar--SET
  • 2016 sales worth THB 131.14 billion, up 5.35 pct y-o-y
  • Net profits worth 3.89 billion, down 8.73 pct y-o-y, partly due to extra items booked

Companies listed on Market for Alternative Investment (mai), reported sales of THB 131.14 billion (approx. USD 3.75 billion) in 2016, a 5.35 percentincrease from a year earlier, while their combined net profits dropped by 8.73 percent to THB 3.89 billion. Six out of eight industries showed revenue and net profit growth.

mai President Prapan Charoenprawatt said the aggregate amount was from the 131 mai-listed companies, or 95.62 percent of the total 137 firms (excluding those in the non-compliance group, and those not submitting the report in time), as of December 31, 2016. Among those reporting firms, 95 companies, or 72.52 percent, reported net profits. The combined sales were THB 131.14 billion, up 5.35 percent from a year earlier, with gross profit rising to THB 30.25 billion, or 5.71 percent increase from a year earlier, while total net earnings was worth THB 3.89 billion, down 8.73 percent from 2015.

"The combined net profits of mai-listed firms pushed down by extra items booked of impairment of assets, not expected to generate income, worth 1.86 billion. However, if excluding these extra items, the net profit of mai-listed companies could be seen a 9.86percent increase in 2016, compared to the previous year. In addition, there were six out of eight industry groups that reported growth in both total sales and net profits in 2016, which were Services, Resources, Financials, Industrial, Consumer products and Agro & Food Industry, corresponding to the domestic consumption recovery. Many firms have accelerated their investment throughout 2016 as seen from their total assets rising by 22.67 percent or THB 38.61 billion, while their liabilities increased by 37.20 percent, or THB 27.86 billion. Meanwhile, mai-listed companies' financial status remained strong with debt-to-equity ratio at 1.00 times, up slightly from 2015."

In quarter 4/2016, the combined net loss was THB 472 million, compared to THB 233 million loss in the same period a year earlier.

As at March 6, 2017, the mai index closed at 606.05 points, down 1.66 percent from the beginning of this year, with a total market capitalization of THB 325.19 billion (USD 9.29 billion) and average daily trading value of THB 2.78 billion.

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